Agriculture is the lifeblood of the nation, and Queensland is a great beef producing state.
It’s been terrific this week to meet beef producers and their families in Rockhampton and hear how optimistic people are about the future of their industry.
This industry has experienced some difficult times in the past.
But Australian beef is flying off the shelves and flying to markets around the world. Export volumes and value are up. Volumes increased by 33% between July 2023 and February 2024. Value increased by 17%.
Queensland beef producers are growing key regional markets. Exports of Queensland beef to Indonesia hit a record high in 2022-23, with the market now worth $980 million. It was a similar story with beef exports to the Republic of Korea, with sales north of $1 billion.
Australian beef is a byword for quality, which is why there is always a place for it on plates across our country and far beyond our shores.
My Government invested a record $6 million to expand Beef2024 because we want a future made in Australia. We want to increase commercial opportunities for Australian beef producers to sell their exceptional product at home and abroad.
Given Beef2024 is a showcase to the world, and delivers an economic benefit to Rockhampton of more than $100 million, it’s also important to invest in giving people a great visitor experience. More than 100,000 people travel to the event from around Australia and from overseas.
Sustainability is a significant focus of Beef2024 this year.
That’s important, because sustainable production is essential if Australian producers want to hold our export markets, and unlock new trade opportunities. Around 70% of the total value of our agricultural, fisheries and forestry production is sold overseas.
Farmers are on the front line of climate change. The harshness and variability of the Australian climate has made our farmers extraordinarily resilient.
My Government wants to ensure beef producers continue to thrive as the climate changes, and as international markets increasingly demand a sustainable supply chain.
We know that climate change is already impacting food production and profitability. Natural disasters are becoming more frequent and severe, whether it be floods, or droughts, or cyclones.
We want to help farmers and regional communities to prepare for the next drought.
We have to help build climate resilience.
That’s why we will use the May Budget to reboot the Future Drought Fund with a record investment of more than $500 million.
The Morrison Government wasn’t prepared to acknowledge that climate change was a factor driving drought.
But we need to acknowledge that reality. We need a new focus and new priorities. We need to anticipate what’s ahead and take steps to mitigate the risks.
We need to be much better prepared for droughts in the future. We need to invest in resilience on farms, and work with communities to build social resilience.
Resources are used more efficiently if we plan for the future – if we make Australian farms more resilient to drought impacts.
We’ve been working with farmers and other stakeholders on this reboot to ensure the support delivers better outcomes.
We’ve been listening to producers about what they need to prepare for the future.
As a result the Fund will have better tools for farmers to help mitigate the impact of drought on their farms.
There will be strategies for local communities to prepare and manage risk through drought cycles, as well as increased investment in the network of drought hubs.
This will make an enormous difference going forward.
The support will be available from July 1.
My Government is committed to delivering the $5 billion Future Drought Fund as Australia’s biggest investment in drought resilience.
This opinion piece was first published in the Courier Mail on Wednesday, 8 May 2024.
